I cant see how it can be a good sign that the MD Matthew Gill...

I cant see how it can be a good sign that the MD Matthew Gill has resigned (or maybe was pushed).

The announcement does not make any comment about why MG is leaving. Often if the person is going to more senior position (promotion) at another company this is mentioned in the announcement with best wishes for the future, done a great job, etc. A reason why the person is leaving, such as a promotion, also soothes the market that everything is all right.

In this instance there was nothing said about why M Gill was leaving. However Michael Kiernan made it a point to say how fantastic the new Managing Director is and how proud he is that the board has made Ian Huitson Managing Director.

My crystal ball says that production is still stuffed at MON and they pushed MG out. I also think MK has appointed another of his ex Consolidated mates. The $10M they raised recently wont last long unless production improves FAST. The sort of announcments that MON has made in the past also indicates to me that if they were getting good production numbers they would be making announcements and not waiting for the quarterly report.


I dont have a position in MON anymore (lucky for me as the SP has fallen more than 50% in the last 6 months and most other gold companies are higher than 6 months ago). However I do have TTY and I am worried that MK is exposing a good iron ore company to a iffy gold company that is buring cash quickly and will be out of cash again soon not to mention a big purchase comming up soon but no cash or raising happening.